Times of geopolitical crisis tend to spell good fortune for the firms developing technology to shore up the world’s militaries. Last month, Chancellor Rachel Reeves pledged an additional £2.2bn to the Ministry of Defence, alongside a pledge to dedicate a minimum of 10% of the department’s budget on “novel technology”, suggesting a windfall for the ... Read more ›
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This week’s UK tech funding roundup includes drug discovery DeepMind spinout Isomorphic Labs, surgical robotic firm CMR Surgical and more. UKTN tracked £800.1m worth of UK tech investment this week (31 March to 4 April), a major week-on-week increase across nine funding rounds. Here’s your weekly roundup of UK tech startup funding deals. Isomorphic Labs ... Read more ›
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An AI-powered proptech startup has shut for business after the founders spoke of their own ‘vanity and stupidity’. London-based Tract, which was founded in 2023, had raised funds from VC firms Ada Ventures and Concept Ventures to build a platform which identifies areas of land to be built and compiles the relevant planning permission documentation, ... Read more ›
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The government has committed £13.9bn in research and development (R&D) spending, turning to new technologies to support its growth agenda. The funding will be allocated by the Department for Science, Innovation and Technology (DSIT) across a handful of associated agencies. UK Research and Innovation (UKRI) – which finances scientific research – will receive £8.8bn over ... Read more ›
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In the Spring Statement, Rachel Reeves announced that the Office for Budget Responsibility (OBR) had concluded the Government’s planning reforms and will help build over 1.3 million homes in the next five years. The reforms are expected to drive housebuilding to a 40-year high, with 305,000 homes built annually by the end of the forecast ... Read more ›
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Anne Coghlan is the co-founder of Scope3, a software firm providing sustainability insights on supply chains. In this week’s Founder in Five Q&A, Coghlan discusses why founders be “eternally curious” and never stop learning, why being transparent with your team is essential and why positive outcomes for the planet don’t have to be negative outcomes for ... Read more ›
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A startup building the agentic operating system for investment firms has secured a £440k grant to scale the business. London-based AlphaLoops has been awarded the UK Smart Grant by Innovate UK, part of UK Research and Innovation, the UK’s national innovation agency, making it one of only 2% of successful applicants. The firm is developing ... Read more ›
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The EV market share in the UK for Elon Musk’s Tesla has fallen by a quarter since the start of the year despite a record number of electric car sales in March. UK sales for battery electric vehicles (BEVs) have risen by 38% compared with this time last year, with the month of March seeing ... Read more ›
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A charity once popular with tech entrepreneurs in the UK and US has seen its funding plummet after the imprisonment of one of its biggest donors. Effective Ventures, a charity operated by the Effective Altruism movement, saw its income sink 51% to £31.7m in the year to end June 2024, its latest accounts show, amid ... Read more ›
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An AI-powered video commerce platform has landed $7m in a Series AI funding round. London-based Unravel is seeking to become the “TikTok of travel”by turning creator content into travel bookings. Unravel said it will use the funding to enhance its AI capabilities to optimise video-commerce conversions and expand its London-based team, hiring top-tier talent in ... Read more ›
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Early-stage investments made up three-quarters of UK VC term sheets last year while the value of late-stage funding rounds fell, fresh figures have found, highlighting the challenges facing mature companies seeking to scale. Seed investments alone accounted for a third of UK funding deals in 2024, according to findings from the annual term sheet guide from ... Read more ›
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Embedded finance firm ClearBank has bolstered its position in the crypto market through a partnership supporting the British operations of US exchange Kraken. ClearBank will provide GBP clearing services – managing, verifying and securing pound-based transactions – for Kraken’s UK clients. The partnership comes weeks after Kraken secured an EMI licence via its legal entity ... Read more ›
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The founder and former CEO of Big Technologies has been accused of failing to disclose her interests in a number of the firm’s major shareholders. Sarah Murray, who was sacked earlier this week, is understood to have undisclosed interests in or relationships with Zinc Limited, Monitoring Partners Limited, RCP Limited and Romelle Limited who together ... Read more ›
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Shares in Wise jumped on Thursday after the global payments firm posted significant growth in customers and income. The figures, released by the London-listed fintech ahead of a capital markets day event set for Thursday afternoon, revealed active customers rose by more than a fifth, reaching 15.5 million by the end of March. Wise also ... Read more ›
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What Britain needed from the Spring Statement was concrete steps towards boosting its defence capabilities. There’s room for improvement, and we await the Strategic Defence Review led by former Secretary General of NATO and Labour Defence Secretary Lord Robertson with even greater interest. The confirmation that defence spending will rise to 2.5% of GDP by ... Read more ›
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One of the UK’s best-funded quantum computing companies has appointed a chief commercial officer as it prepares for “productisation”. Hugo Saleh, a former director of product management at Google, has been named president and CCO of Quantum Motion. Founded by researchers at Oxford and UCL, Quantum Motion has so far grown from VC investments, having ... Read more ›
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The new owners of the Aquis stock exchange have said its trading technology could be used to create a new ‘pan-European listing venue’, in a potential boost to revive London’s public markets. The firm, which counts the likes of Ora Technology, Kondor AI and IntelliAM among its constituents, was acquired by the Swiss stock exchange ... Read more ›
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SoftBank and Tencent-backed medical robotics company CMR Surgical has secured a $200m (£154.5m) funding round to fuel growth in the US market. The Cambridge-based group said its latest fundraise will support the global commercialisation of its Versius surgical robotic system, with plans to launch it in the US, with a medtech market size of over ... Read more ›
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Oxford Quantum Circuits has appointed engineering veteran Jack Boyer as its new chair as the firm continues its global expansion and technological advancement. Boyer, 65, brings a wealth of experience in scaling deep-tech and engineering companies, currently serving as Chair of Royce Hydrogen Accelerator, Bristol University and Non-Executive Director at Bela Holdings AG. He will ... Read more ›
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British Business Bank has committed €20m (£16.7m) to the second fund from European tech investor Revaia. Revaia Growth II will target high-growth tech scaleups across Europe and the UK with a focus on sustainable innovation. The firm invests in sectors including energy, AI and cybersecurity. As part of the investor’s commitment to sustainable ventures, Revaia ... Read more ›
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Inventory issues drove down pre-tax profit by more than half in the first full-year of results for computer maker Raspberry Pi since its IPO last June. The FTSE 250 firm reported profit before tax of $16.3m for the year ended December 2024, 57% down from 2023. In part this was down to shortages of single ... Read more ›
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Last month saw the long-awaited Online Safety Act come into force in the UK. This much-discussed piece of legislation is intended to create a safer online environment for internet users. In an age where almost everybody has a smartphone, where a significant proportion of business and leisure alike are conducted online and where vulnerable people ... Read more ›
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London fintech KAF Technology could be in court later this month after being sent a winding-up petition by payments firm Thredd. The Southgate-based business, which has 17 staff according to LinkedIn data, was sent the petition on 27 March. A court hearing at the Business & Property Courts on Fetter Lane, London, is scheduled for ... Read more ›
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Chip designer Arm recently sought to acquire London-listed semiconductor IP supplier Alphawave, according to reports. Cambridge-based Arm, part-owned by Japanese conglomerate SoftBank, entered initial discussions with Alphawave in efforts to secure technology required to build AI processors, first reported by Reuters. Arm has not decided to progress with an acquisition according to sources close to ... Read more ›
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Zepz has secured a new $165m debt finance package as the firm’s audited accounts head towards being eight months overdue. The global payments group behind WorldRemit and Sendwave (International Remittance), has secured a $110m revolving credit facility led by HSBC Innovation Banking UK. This forms part of a larger $165m growth financing package announced by ... Read more ›
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Business Insider
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36% 3 |
The Verge
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9% 0 |
Gizmodo
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9% 0 |
MacRumors
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7% 5 |
Vox
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6% 2 |
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05.04.2025 01:33
Last update: 01:05 EDT.
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